The Procter & Gamble Company (NYSE:PG) Shares Bought by CVA Family Office LLC

Posted by Defense World Staff on Jul 16th, 2023

CVA Family Office LLC boosted its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,791 shares of the company’s stock after buying an additional 455 shares during the period. CVA Family Office LLC’s holdings in Procter & Gamble were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its stake in Procter & Gamble by 96,526.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock valued at $5,840,449,000 after purchasing an additional 38,495,676 shares during the last quarter. Norges Bank purchased a new stake in Procter & Gamble during the 4th quarter valued at about $3,752,321,000. Morgan Stanley grew its stake in Procter & Gamble by 12.6% during the 4th quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock valued at $6,717,246,000 after purchasing an additional 4,959,527 shares during the last quarter. Alliancebernstein L.P. grew its stake in Procter & Gamble by 43.9% during the 4th quarter. Alliancebernstein L.P. now owns 9,462,510 shares of the company’s stock valued at $1,434,138,000 after purchasing an additional 2,888,007 shares during the last quarter. Finally, CI Private Wealth LLC purchased a new stake in Procter & Gamble during the 4th quarter valued at about $292,647,000. 64.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CFO Andre Schulten sold 25,244 shares of the stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $155.27, for a total transaction of $3,919,635.88. Following the completion of the transaction, the chief financial officer now owns 27,118 shares of the company’s stock, valued at $4,210,611.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Shailesh Jejurikar sold 31,000 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $156.03, for a total value of $4,836,930.00. Following the completion of the sale, the chief operating officer now owns 10,014 shares of the company’s stock, valued at $1,562,484.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Andre Schulten sold 25,244 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $155.27, for a total value of $3,919,635.88. Following the completion of the sale, the chief financial officer now directly owns 27,118 shares of the company’s stock, valued at approximately $4,210,611.86. The disclosure for this sale can be found here. Insiders sold 95,093 shares of company stock valued at $14,821,930 over the last quarter. 0.26% of the stock is currently owned by insiders.

Procter & Gamble Stock Performance

NYSE PG opened at $150.05 on Friday. The stock has a market capitalization of $353.66 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 3.83 and a beta of 0.42. The Procter & Gamble Company has a twelve month low of $122.18 and a twelve month high of $158.11. The company has a current ratio of 0.59, a quick ratio of 0.39 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average of $149.25 and a 200 day moving average of $147.25.

Procter & Gamble (NYSE:PG – Get Free Report) last announced its earnings results on Friday, April 21st. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. Procter & Gamble had a return on equity of 32.18% and a net margin of 17.69%. The business had revenue of $20.07 billion during the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter in the prior year, the firm earned $1.33 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. Sell-side analysts anticipate that The Procter & Gamble Company will post 5.86 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 21st will be issued a dividend of $0.9407 per share. The ex-dividend date is Thursday, July 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.51%. Procter & Gamble’s payout ratio is currently 65.51%.

Analysts Set New Price Targets

Several research firms have weighed in on PG. StockNews.com began coverage on Procter & Gamble in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Truist Financial downgraded Procter & Gamble from a “buy” rating to a “hold” rating and lowered their target price for the stock from $165.00 to $155.00 in a research note on Thursday, May 18th. Barclays upped their target price on Procter & Gamble from $160.00 to $167.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft upped their target price on Procter & Gamble from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. Finally, Raymond James upped their target price on Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Sunday, April 23rd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus price target of $161.50.

About Procter & Gamble

(Free Report)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.